Word: whitney
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Dates: during 1930-1939
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...Richard Whitney's Old Guard looked on him as an amiable tool for their campaign...
...insure democratic rule. Few days before the Conway plan came out, Douglas gave the Exchange a taste of what it might expect unless it cleaned its own stables: SEC issued a new rule sharply curtailing short sales. Thus spurred, the Exchange endorsed the Conway recommendations at once. Richard Whitney again mobilized his opposition, but early in March came the event which definitely delivered the battle into reform hands-Whitney, so long the White Knight of Wall Street, was a thief...
Symbol. Bill Douglas says that even without the Whitney scandal, the day had been carried. But the Whitney affair washed the slate clean. All resistance broken, the Exchange voted immediately for reorganization and for a new board of governors which included not a single Old Guarder, not even much-maligned Charles...
...startled the Exchange first by leaving the door of his tawny-paneled office open to anyone who wanted to see him-a change from the days when Richard Whitney sat there in regal isolation. He irked crusty conservatives by letting photographers attend his first board meeting and also take pictures on the floor during trading hours. But chiefly he astonishes his broker associates by eating at the Automat, living at the Yale Club, spurning an automobile as too expensive, preferring to study or sit in a theatre balcony to splurging at some swank Long Island resort...
...efficient a market for the nation's securities as can be devised. . . ." He ousted the firm of Carter, Ledyard & Milburn as Exchange lawyers, a post they had held for 60 years, because Partner Roland Redmond had been too closely identified in the public mind with Richard Whitney's fight against reform. He jammed through SEC's short-selling rule. He inaugurated a series of round-table talks with SEC to affirm publicly the partnership between himself and Douglas...